Ozymandias

good vibes

DeFi | researcher | daily tracking | content growth

NFA | DYOR

[Ozymandias @TraderOzy]

if you're a diamond hand, surround yourself with people who share the same mindset or search and try to find them

the real value in the ecosystem lies in trusting the true projects you believe in for the long term, without getting caught up in short term price fluctuations, especially if the project is truly solid

diamond hands don't just hold - they share their vision, patience, and belief with others on this long journey; this market is often built on patience and determination, because it rewards not those chasing quick gains, but those who build the ecosystem over time and contribute to that growth

surround yourself with true believers and those who are constantly building

having different perspectives in the ecosystem is great but when you surround yourself with eyes that see the world differently and come together with true believers, achieving or accomplishing something becomes much more meaningful

being part of meaningful communities where you can share the story together is crucial

and never forget

strength lies in the union of diverse perspectives and skills

[Michael Saylor @saylor]

32?

[CoinGecko @coingecko]

If you're still in crypto you must be very loyal in relationships

[Ozymandias @TraderOzy]

@CryptoTeluguO xD

[Ozymandias @TraderOzy]

@base

[Ozymandias @TraderOzy]

@liquidtrading Hyperliquid.

[vitalik.eth @VitalikButerin]

Some of my perspective on where the @ethereumfndn is going.

First of all, this is only my own view. The board is not just me, and I have no extra special powers on the board that the other board members do not. @aerugoettinea is the one executing much of this transition. My input has been largely on technical questions. The board is in the process of expanding, and my own power within the org will continue to decrease, which is honestly what I want.

The 2025 era brought many important improvements to EF and its ability to execute. Many issues were resolved, and EF continues to benefit from its improved efficiency and greater focus on concrete goals to this day. And so with those problems resolved, early this year, the largest remaining hole that I perceived was something different nagging at me: I would regularly spot people saying things like "vitalik says these beautiful things about ethereum needing to be decentralized, and have privacy, and be a sanctuary technology, but why do the EF's actions not reflect that?"

Now, you may have been hearing something different. You may not have been sensing a feeling of crisis at all, and maybe were hearing people saying that finally we were taking execution and BD seriously and the main task for us is to keep going that way and be even better and faster. Then probably there is genuine difference between you and me, in what kinds of criticism I take most seriously, and what kinds of critics through their criticism are most able to make me feel pain.

As an analogy, let's briefly switch over to a different domain.

One belief you can have about Google is that it is a success story, and has brought a lot of good to humanity in organizing the world's information. Another belief you can have about Google is that they had a beautiful idealistic beginning, but at some point the corruption of mainstream corporate attitudes seeped in, and they slowly bit by bit completely abandoned the "don't be evil" slogan.

My belief on Google specifically is probably somewhere between the two. BUT, if you had taken me back in time to ~2008, and offered me a button to press to make Google one or two standard deviations more "dogmatic", eg. give Richard Stallman permanent veto power over some key policies, I would immediately press it.

Why? Because a choice for one company is not a choice for the world, or even one country. Google existed and exists in the context of a technology industry generally drifting away from early idealistic don't-be-evil roots and toward greed for financial gain, totalizing visions of accelerated superintelligence, infiltration by sociopaths, and craven capitulation to (or worse, active participation in) government pressure for ideological control, surveillance and war. And so *one company* doing something different, positioning itself to be what George Bernard Shaw calls the Unreasonable Man, resisting the trend of the times, would have been better for freedom, balance of power and stability of society as a whole, than *all* large companies bending to dominant trends. This is a part of my version of pluralism.

This line of thinking is not just mine, but I also is not too far off from what Aya and others had in mind with the Mandate.

Now how does this all get to the role of the EF?

EF is not a "center of Ethereum", rather EF is "one node, with a defined purpose, alongside other nodes". We've always said that the EF should be the latter, but many in the Ethereum ecosystem (and even within the EF) wanted us to be the former. Now, we are taking action to ensure that we will be the latter.

This is particularly important because EF is a limited organization, with limited resources and limited organizational capacity. The EF has only ~0.16% of all ETH (less than many other individual ETH holders), whereas among other blockchains it's common for "the central foundation" to have 10-50%. Fiscally, the EF was originally designed to fulfill a limited work scope defined in the token sale docs and other pre-launch materials (building the chain software; getting through Frontier, Homestead, Metropolis, Serenity), which was fully completed in 2022; it was not designed to be an eternal steward.

And so today, the EF is choosing to use its remaining resources to pursue longevity over breadth (yes, this means we sell less ETH). The EF focuses *specifically* on those activities critical to the success of ethereum as a censorship/capture-resistant, open, private and secure system, that would not happen otherwise. This means making hard choices, and in some cases even activities that we highly approve of and people that we highly respect becoming outside of the EF. People of great technical talent, public respect and even alignment with the mission and CROPS being outside of the EF is in fact necessary if we want important tasks to be able to attract outside capital. This also means the EF taking opinionated stands culturally.

This is all intended in cooperation with all other parts of ethereum. We recognize that many other parts of the ethereum world highly respect CROPS and related values. But highly respecting is not the same as choosing to specialize and totally dedicate to a domain (Compare in a different domain: I think reducing animal cruelty is important, and I like vegan food, but am not full unconditional vegan myself)

EF is still in a transition period, and we expect its new long-term form to stabilize over the next few months. What are the guiding principles of this new form? Again, I am only one person, but I can give my answer from a technical perspective (there are also critical non-technical aspects).

At the core, *Ethereum must be impressive*. We are living in an age of highly intelligent AI and all kinds of other technological acceleration. "Status quo EVM, with a hard fork or two a year to optimize for short-term needs of users" is not interesting.

To some, "impressive" means: 250ms latency and 1M TPS. I think Ethereum trying to go that route is a mistake. Being as fast and as scalable as possible, and only a small epsilon more decentralized than the others, is a route to mediocrity, and if we try it we will lose.

I think Ethereum should scale. But I think Ethereum should strive the hardest to be deeply impressive in a different dimension: the CROPS dimension. This means things like:

* Provably bug-free Ethereum. This is a goal that all cybersecurity researchers would have thought is absurd and impossible, up until roughly 6 months ago. Now, it's on the cusp of being possible, thanks to AI-assisted formal verification. So we should be frontrunners in doing this.

* Available chain consensus. Ethereum is, and with lean consensus will cotninue to be, the ONLY chain that has both (i) traditional-BFT style properties that it's safe under asynchrony up to a high level of fault tolerance, and (ii) the bitcoin PoW-style property that under synchrony it's safe up to 49% attackers. As far as I can tell, literally no other chain has this or is planning for it; bitcoin goes for (ii) only and most other chains go for (i) only. Some will remember I fought hard for this, Unreasonably insisting that it is not OK for ethereum to rely on social consensus and hard forks to rescue ethereum from 34% of nodes going offline. It's OK for chains like hyperledger, bnb, solana, tempo, etc. It's not OK for bitcoin or ethereum or eg. zcash.

* Intermediary minimization. The fact that smart contract wallets, protocols like railgun, etc have to send transactions through intermediaries to get included onchain is honestly embarrassing, and it's a constant point of fragility. Hence the work on FOCIL and EIP-8141 (and 7701 and years of work before) to make transaction sending intermediary-minimized with public mempool and strong inclusion properties, in a truly general-purpose way, that covers not just eg. secp256r1, but also privacy protocols and much more. Kohaku is pushing intermediary minimization at the user layer, pulling Ethereum away from the dystopian status quo world where our wallets don't even verify the chain, send our private data out to a dozen third-party servers, and toward a brighter CROPS future.

Some of these goals are Unreasonable - maybe Ethereum would be "fine" getting only 50% of the way - what if we depend on intermediaries, but make it easy to switch? But going 50% of the way would not make Ethereum Deeply Impressive in the CROPS way. So we push for 100%.

Fortunately all these goals are compatible with high TPS, this is a major focus of research (esp. on scaling the state). Well-designed L2s can also help, especially L2s optimized for specific applications (eg. high-volume trading, privacy...). These goals are even compatible with significantly lower slot times, thanks to Raul's work on erasure-coded P2P, and many other optimizations.

The most high-value "product" of the ethereum blockchain, financially speaking, is ETH the asset. Ethereum secures $250 billion of ETH. The types of properties of Ethereum that I mentioned above are very good for ETH the asset. Nearly 90% of my net worth is in ETH, and most of the remainder is ~$40m of onchain fiat of which every dollar has already been allocated for some open-source biotech or software or hardware initiative. That said, there are aspects of supporting ETH the asset - *necessary* aspects even - that are outside the scope of the EF. This is where we need other heroes (some of whom hold more ETH than the EF does) to step in and help. EF has been recently thinking more about how it will relate to other such organizations, and give them needed initial support.

EF will be a smaller ship than in previous years, a more opinionated one - in some cases more opinionated in ways that might be difficult to comprehend - but a longer-lasting one, and one suited to making sure that ethereum brings something meaningful to the world. We are grateful to all those inside and outside the EF who are helping to make this happen.

[Ozymandias @TraderOzy]

@Deestar Hyperliquid.

[Ozymandias @TraderOzy]

new all time high for $HYPE

study @HyperliquidX

[Hedgeye @Hedgeye]

🇹🇷 Turkey liquidated almost all its U.S. Treasuries in March

[*Walter Bloomberg @DeItaone]

TURKEY DUMPS US TREASURIES TO DEFEND LIRA

Turkey sold nearly all of its US Treasury holdings in March, cutting them from $16 billion to just $1.8 billion, according to US Treasury data.

The selloff came as Ankara moved to support the lira during market turmoil triggered by the Iran war. The central bank also sold foreign currency and gold reserves to stabilize the economy.

Despite the interventions, the lira remains under pressure, inflation has risen to 32.4%, and Turkish bond yields have hit record highs.

[zerohedge @zerohedge]

*TURKEY LIQUIDATED ALMOST ALL ITS US TREASURY HOLDINGS IN MARCH

Turkey dumped their gold AND their treaesuries

[Ozymandias @TraderOzy]

@ryandcrypto why not?

[Ozymandias @TraderOzy]

@saylor xD

[Ozymandias @TraderOzy]

@lupanar86 @heydotxyz so goddamn true

[Ozymandias @TraderOzy]

Hyperliquid.

[Hyperliquid @HyperliquidX]

Coinbase has announced its plan to activate AQAv2 on USDC as the treasury deployer, with Circle serving as the technical deployer responsible for CCTP and native cross-chain infrastructure. Both Coinbase and Circle have committed to stake HYPE to activate AQAv2. As part of this transition, Native Markets has agreed to terms granting Coinbase the right to purchase the USDH brand assets. With Coinbase, in its role as treasury deployer, sharing the vast majority of reserve yield revenue with the protocol, USDC will become the most aligned stablecoin on Hyperliquid. As a result, canonical outcome (HIP-4) markets will use USDC as the quote asset in a future network upgrade.

User and builder feedback has been consistent that fragmentation leads to degraded experience; now, the community no longer needs to choose between liquidity and protocol alignment.

The pioneering work of Native Markets in launching USDH as the first production-scale stablecoin sharing yield directly with a protocol in a purely onchain implementation made AQAv2 possible. The learnings and mechanics pioneered by USDH will live on in AQAv2.

The Hyper Foundation will give grants to eligible HIP-3 deployers, HIP-1 deployers, and builders who integrated USDH, supporting teams through migration over the next months. These grants reflect an ongoing commitment to teams who choose to build on Hyperliquid and align with the protocol. USDH markets are fully functional but will sunset over time. USDH remains fully backed, with feeless conversions to USDC and fiat available to users during this transition.

[Ozymandias @TraderOzy]

@HyperliquidX hyperliquid.

[Ozymandias @TraderOzy]

I like trading $HYPE.

this pair has trading structures that show strong respect for the Price Action concepts.

[Ozymandias @TraderOzy]

Bitcoin.
Ethereum.
Hyperliquid.

2 of these are still cheap.

[Ozymandias @TraderOzy]

@prjx_hl lmao

[Ozymandias @TraderOzy]

@0xJohnson909 some Perpdexs will give birth to new whales xD

[Ozymandias @TraderOzy]

rn I've got a pretty good indicator:

based on who's moderating a project ,
or who's shilling it,
or according to their ambassadors,

can pretty much predict how bad the airdrop is going to be.

there have been tons of examples over the past year, hahahahah

[manya @manyaaww]

be @billions_ntwk

> raised $30m, wasnt enough so raised another $5m through kaito launchpad

> they promised TGE in q4 2025 but delayed it to q2 2026

> they changed the sale terms few days before tge after locking users in for almost 10 months

> they launched two nft collections to extract more money

> they made people grind for over a year across yappers, Discord roles, and NFTs by creating so many roles

> after so many delay they decided to launch today and with binance alpha💀

> it’s been hours since launch with no claim update and they let alpha users exit before their own community could even claim

> presale participants cant really claim anything as its vested for 6 months

> they opened claims for kaito users only after the damage was done and handed their most active users $100 to $200

> this is how you extract from your community, dump your tokens and still call it a launch

Easily the poorest drop execution u have ever seen, should have been called Nillions_ntwk, at least that would be honest